Canaccord Genuity Group Lowers Illumina (NASDAQ:ILMN) Price Target to $92.00

Illumina (NASDAQ:ILMN) had its price target trimmed by Canaccord Genuity Group from $115.00 to $92.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a hold rating on the life sciences company’s stock.

A number of other brokerages have also weighed in on ILMN. Citigroup cut their target price on shares of Illumina from $90.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Piper Sandler boosted their price objective on Illumina from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Guggenheim cut their price target on Illumina from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Hsbc Global Res cut shares of Illumina from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, TD Cowen lowered shares of Illumina from a “buy” rating to a “hold” rating and cut their price target for the stock from $177.00 to $140.00 in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Illumina has a consensus rating of “Moderate Buy” and an average price target of $137.55.

Illumina Stock Down 0.2 %

Shares of ILMN opened at $77.10 on Tuesday. The firm has a 50 day simple moving average of $81.11 and a two-hundred day simple moving average of $117.11. The company has a market cap of $12.20 billion, a P/E ratio of -10.04, a P/E/G ratio of 1.60 and a beta of 1.38. Illumina has a one year low of $68.70 and a one year high of $156.66. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.42.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Thursday, February 6th. The life sciences company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. Research analysts forecast that Illumina will post 4.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Rakuten Securities Inc. lifted its holdings in shares of Illumina by 290.3% in the 1st quarter. Rakuten Securities Inc. now owns 363 shares of the life sciences company’s stock worth $29,000 after purchasing an additional 270 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Illumina by 153.7% in the fourth quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock valued at $32,000 after buying an additional 146 shares in the last quarter. Golden State Wealth Management LLC bought a new position in shares of Illumina in the fourth quarter valued at $32,000. Center for Financial Planning Inc. acquired a new position in shares of Illumina during the first quarter valued at about $33,000. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Illumina during the fourth quarter worth about $40,000. 89.42% of the stock is owned by institutional investors and hedge funds.

About Illumina

Illumina, Inc offers sequencing- and array-based solutions for genetic and genomic analysis in the United States, Singapore, the United Kingdom, and internationally. It operates through Core Illumina and GRAIL segments. The company offers sequencing and array-based instruments and consumables, which include reagents, flow cells, and library preparation; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.